Is this WoT feature sufficient to reduce impersonation risk? 
Discussion
Probably buried too deeply. No one's going to read that far down on an impersonator's account.
No. Im referring to the scenario where an account you and even others follow decides to one day change their name, avatar and banner urls to another account you follow, and then acts as them. Even NIP05 would check out here.
A private label would let me assign a label to always see you as elsat (and/or a title for context) even after you change your display name
Like so?

Personal Notes would also be nice, but labeling is more what I'm after. I envision rendering to be something like this to note an account I've labeled. In this example, imagine that you've labeled me as "Kevin (Detroit)". Every post I make would show that private label to you. If someone else comes along claiming to be me, their account wouldn't be labeled as you've set it. Likewise, if I changed my name to something else, the "Kevin (Detroit)" label you set would still stick and make it apparent to you. This also solves a problem where people change their names over time and their followers are not all aware. Recently I heard that stellainforest changed their name. I need to track down the new one.

Got it. I think the term in nostr is βpet namesβ.
A risk of pet names is that if you accidentally post your nsec publicly, and you label for instance nostr:npub1jk9h2jsa8hjmtm9qlcca942473gnyhuynz5rmgve0dlu6hpeazxqc3lqz7 with his name and address 123 main st iowa city.
Maybe pet names could remain local.
Local >>
NIP02 is follow list.
NIP32 is labeling and reference pet names but that format it suggests is a weird taxonomy.
There should ideally be no tight coupling to the concept of phone numbers and native device contacts.
Stellainforest is now nostr:npub1m4ny6hjqzepn4rxknuq94c2gpqzr29ufkkw7ttcxyak7v43n6vvsajc2jl